Goldman Sachs: The current market is at the beginning of a stablecoin "gold rush".

On August 21, a research report released by Goldman Sachs' Will Nance and others pointed out that the current market is at the beginning of a stablecoin "gold rush." The report states: "Stablecoins represent a global market valued at $271 billion, and we believe USDC will benefit from its market share growth both within and outside of its partner CEX platforms, as ongoing stablecoin legislation is legitimizing the ecosystem, and the encryption ecosystem is also expanding, potentially catalyzed by legislation. Based on current trends and announced initiatives, USDC is expected to grow by $77 billion between 2024 and 2027, with a compound annual growth rate (CAGR) of 40%." The bank concluded, "Therefore, in the long term, the payment sector is the most obvious source of expansion for stablecoins. This opportunity has largely gone untapped so far, with most stablecoin activity driven by cryptocurrency trading activities and demand for U.S. dollar exposure outside the United States." (Jin10)